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Stock Picks of the Day: Sime Darby & Panda Eco System

Business Today ·  Oct 9 07:52

Sime Darby appears set to continue its upward trajectory, with the stock climbing above the RM2.50 resistance level. The 21-day SMA line is trending upwards, indicating a short-term bullish trend. If the stock remains above the RM2.50 breakout, it is poised to test the next resistance levels at RM2.65, followed by RM2.85. However, a dip below RM2.35 could trigger a bearish phase, according to RHB Investment Bank Bhd.

Meanwhile, Panda Eco System shows strong bullish potential after surpassing the RM0.35 resistance level, backed by solid trading volume. The stock closed with a fresh bullish candlestick, suggesting further gains ahead. If momentum continues, it could target the RM0.39 level, followed by RM0.43. A drop below RM0.32 would invalidate this bullish outlook.

Both counters demonstrate promising growth potential, supported by strong technical indicators and market conditions.

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